Nearly 173,214 crypto traders were liquidated within 24 hours, with total losses reaching approximately $2.98 billion. Short positions bore the brunt of the losses, accounting for $2.74 billion or 92% of the liquidated value. The largest single position wiped out was a $48.80 million BTC-USD bet on Hyperliquid, a decentralized perpetual futures exchange. This represented a 15-fold increase from the previous day, when $196 million was wiped out. While substantial, this figure remains below the all-time record of $19.16 billion seen on October 10, 2025.
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